$0.40 EPS Expected for Colfax Corporation (CFX) This Quarter
Equities analysts predict that Colfax Corporation (NYSE:CFX) will report earnings per share (EPS) of $0.40 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Colfax Corporation’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.43. Colfax Corporation reported earnings per share of $0.39 during the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The company is scheduled to announce its next earnings report before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Colfax Corporation will report full-year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.67 to $1.75. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.03 per share, with EPS estimates ranging from $2.00 to $2.05. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Colfax Corporation.
Colfax Corporation (NYSE:CFX) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The company had revenue of $965.83 million during the quarter, compared to analyst estimates of $940.31 million. During the same period in the previous year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis.
A number of research analysts have issued reports on the stock. Seaport Global Securities reaffirmed a “buy” rating on shares of Colfax Corporation in a report on Wednesday, June 14th. BidaskClub raised shares of Colfax Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research cut shares of Colfax Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Wolfe Research assumed coverage on shares of Colfax Corporation in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $50.00 price target (up previously from $45.00) on shares of Colfax Corporation in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $46.00.
Shares of Colfax Corporation (CFX) traded down 1.25% during trading on Tuesday, reaching $41.82. 374,933 shares of the company were exchanged. The firm has a market capitalization of $5.15 billion, a PE ratio of 32.90 and a beta of 1.32. Colfax Corporation has a 1-year low of $28.47 and a 1-year high of $42.93. The company’s 50-day moving average is $40.72 and its 200 day moving average is $40.06.
In other news, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total value of $146,998.62. Following the sale, the executive vice president now owns 40,224 shares in the company, valued at $1,654,413.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Stephen Wittig sold 29,189 shares of Colfax Corporation stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the completion of the sale, the senior vice president now owns 15,479 shares in the company, valued at approximately $608,324.70. The disclosure for this sale can be found here. Insiders sold 33,202 shares of company stock valued at $1,312,182 in the last ninety days. 10.60% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CFX. BlackRock Inc. grew its position in shares of Colfax Corporation by 13,409.0% in the first quarter. BlackRock Inc. now owns 4,103,892 shares of the industrial products company’s stock valued at $161,119,000 after purchasing an additional 4,073,513 shares during the period. Oak Ridge Investments LLC acquired a new stake in shares of Colfax Corporation in the second quarter valued at about $46,085,000. FMR LLC grew its position in shares of Colfax Corporation by 32.8% in the first quarter. FMR LLC now owns 4,243,210 shares of the industrial products company’s stock valued at $166,588,000 after purchasing an additional 1,048,360 shares during the period. Balyasny Asset Management LLC acquired a new stake in shares of Colfax Corporation in the second quarter valued at about $35,722,000. Finally, Point72 Asset Management L.P. grew its position in shares of Colfax Corporation by 1,233.6% in the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock valued at $35,499,000 after purchasing an additional 836,400 shares during the period. Institutional investors and hedge funds own 75.22% of the company’s stock.
Colfax Corporation Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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